BPH Global Ltd

120-Day Business Development Plan

The Board of BPH Global Ltd (ASX: BP8) (Company) announces that the Company’s CEO Matthew Leonard and CFO Chow Yee Koh are currently travelling in Malaysia and China for a series of meetings over a 2–3- week period commencing last week. The CEO and CFO will be joined by China-based Company Director Michael Huang for strategic meetings in Malaysia and China.


Highlights

  • CEO & CFO in Malaysia & China to advance BP8’s APAC & China-based projects as part of a 120- day business plan.
  • Wide and deep engagement with potential China-based cornerstone investors.
  • Focus on securing supply agreements with a major supplier(s) to underpin further expansion of sales & distribution channels for Bird’s Nest products.
  • Discussions regarding expanding the China Tobacco sales & distribution footprint.
  • Re-activation of hemp business.

This visit to Malaysia and China represents a further major business development opportunity for the Company. This visit follows the completion of the acquisition of China-based Foshan Gedishi Biotechnology Co Ltd (Foshan) in December 2023 and the renewal in January 2024 of the sales & distribution agreements with the two (2) wholly owned subsidiaries of China Tobacco, Guangzhou Gold Leaves Franchise Co Ltd and Guangzhou City Twenty Sticks Commercial Franchise Co Ltd, based in Guangzhou City in the Province of Guangdong (Guangzhou Subsidiaries).

The visit by the Company’s CEO and CFO represents the Board’s confidence in the potential for the further expansion of the Company’s bird’s nest operations and the reactivation of the Company’s hemp operations in China. Activities to be explored/discussed by the CEO and CFO include:

  • Bird’s nest supply arrangements: The Board recognises that the Company’s ability to secure the supply of quality bird’s products at competitive prices underpins its goal of growing its sales numbers. A principal focus of this current business visit to Malaysia and China is to enter into a supply agreement with one or more major suppliers of bird’s nest products. The Company’s CEO made several visits to Malaysia and China in 2023, and working with the Company’s director Michael Huang, sought to develop the Company’s options for the purchase of raw bird’s nests and bird’s nest products. The CEO, CFO and Michael Huang will leverage previous discussions regarding bird’s nest supply arrangements to drive further discussions and negotiations in Malaysia and China with the goal of securing new and expanded bird’s nest supply arrangements.
  • China Tobacco and initial sales results: Following renewal of the two (2) sales and distribution agreements between the Company’s wholly owned subsidiary Foshan and the Guangzhou Subsidiaries, the Company’s immediate focus was on maximising sales of its bird’s next products during January and February prior to Chinese New Year (Initial Sales Period). The Company is currently working with China Tobacco and the Guangzhou Subsidiaries to finalise the sales numbers achieved by sale of Foshan’s bird’s nest products during the Initial Sales Period. The Company expects to be able to report those sales numbers to the market prior to the end of this month. The Company is aiming to leverage these trading results and increased brand awareness to negotiate with China Tobacco for an expansion of the Company’s operational footprint under the agreements with the Guangzhou Subsidiaries, initially by expanding the number of China Tobacco outlets in which it operates within Guangzhou City, then subsequently to China Tobacco outlets in the greater Guangdong Province. China Tobacco, via the Guangzhou Subsidiaries, operates approximately 370 stores in Guangzhou City.
  • Chinese Autumn Festival: The next major seasonal bird’s nest retail opportunity for the Company is the Mid-Autumn Festival which this year will be celebrated in China from 15 to 17 September. The work that the Company is now undertaking to expand both its bird’s nest supply arrangements and its bird’s nest retail footprint will be crucial to maximising its sales performance in the period leading up to this festival. The Company will also work to ensure that it has in place arrangements with key opinion leaders (KOLs) to maximise its sales opportunities on Douyin (the Chinese equivalent of TikTok).
  • Chinese banks – Bird’s nest corporate gifts program: The Company is seeking to enter bird’s nest products supply agreements with major Chinese banks. Corporate gift giving is an important feature of Chinese corporate culture. High-end bird’s nest products are commonly gifted by major banks to their corporate and high net worth clients. Company Director Michael Huang and the Foshan management team have already commenced discussions with major banks regarding potential bird’s nest supply arrangements with Foshan. These discussions will be further progressed during the CEO’s visit in China.
  • Hemp business: The CEO and CFO will work with Michael Huang in China on reactivating and expanding the Company’s hemp business. The initial steps will be to source hemp-based cosmetic products from third party suppliers for on-sale in the Chinese market. The Company does not intend to leverage its Chinese hemp growing licence in the short term to commence cultivation and harvest activities. The farming of hemp is capital intensive. The Board will delay the commencement of hemp farming activities to a later time when the Board believes that the Company’s cash position is sufficiently sound to support such activity.

The goals of the new Board and management team over the four-months period ending 30 June and arising from this China-Malaysia visit are structured around timeline milestones as follows:

  • March - The China visit: Conduct of the Malaysia and China business visits in accordance with the goals stated above. Finalisation and release of China Tobacco sales results from the Initial Sales Period.
  • April - Completion of transactions: Negotiation of agreements regarding the investment and commercial operations opportunities that arise from the Malaysia-China visit.
  • May: Return visit to Malaysia and China. Finalisation and execution of agreements regarding the investment and commercial operations opportunities that arise from the initial Malaysia-China visit.
  • June: Commence and consolidate operations pursuant to the new commercial operations agreements. Preparation for Autumn Festival sales period.

The Board will constantly monitor these milestones and their timing and will adjust them as may be necessary to take advantage of opportunities that may arise and/or to provide for changed circumstances.


Click here for the full ASX Release

This article includes content from BPH Global Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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